Amendment of sections 119, 120 and 132A.
149. In sections 119, 120 and 132A of the principal Act, for the words “recognised association” wherever they occur, the words “recognised stock exchange” shall be substituted with effect from the 1st day of April, 2020.
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Declaration under the Provisional Collection of Taxes Act, 1931
It is hereby declared that it is expedient in the public interest that the provisions of clauses 115 (a), 115 (b), 139 and 145 of this Bill shall have immediate effect under the Provisional Collection of Taxes Act, 1931. (16 of 1931)
Notes on Clauses:
Clause 149 of the Bill seeks to amend sections 119, 120 and 132A of the said Act so as to substitute the words “recognised stock exchange” for the words “recognised association”.
These amendments will take effect from 1st April, 2020.
